Howden Tiger expands European business with Swiss broker buy
Howden has snapped up a specialist international reinsurance broker headquartered in Switzerland to further strengthen the company’s European reinsurance platform and client offering.
Howden has acquired Haakon AG, which was formerly part of the Baloise Group. It has offices in Basel and Kuala Lumpur, and a 43-year track record of providing treaty, facultative and complex reinsurance solutions to clients in Switzerland and across Europe, Asia and the Middle East.
The transaction will be Howden’s ninth acquisition in Switzerland in two years, providing further momentum to its ambitious growth strategy, the company noted.
Haakon will benefit from the Howden Tiger reinsurance platform as it continues to focus on meeting the growing demands of large global clients, domestic and regional insurers, MGAs and reinsurers.
Massimo Reina, CEO of Howden Tiger International said: “The success of Howden Tiger’s European growth has been predicated on attracting highly talented local, like-minded, independent broking specialists with leading reputations for delivering the very best client solutions. We have found the ideal partner in Haakon, to achieve our reinsurance ambitions in Switzerland as well as strengthening our position as one of the leading reinsurance brokers in Europe.”
Thomas Meier, CEO of Haakon said: "This is a defining moment in Haakon’s long history. In Howden we have found an independent, long-term partner with a shared vision and culture which puts clients at its heart and empowers the industry’s very best entrepreneurial talent. Combining with the world’s fastest growing reinsurance brokers gives us the scale, depth of talent and distribution capabilities to continue to position our business for long-term success. We look forward to writing the next chapter with our new colleagues at Howden Tiger and Howden Switzerland."
Ivo Gugolz, CEO reinsurance, Howden Switzerland, added: "We’re delighted that Haakon has chosen Howden as its long-term home. The reputation Haakon has built over four decades is unique and by creating the largest reinsurance broking team in Switzerland, we’re bringing a new and exciting long-term proposition to clients and talent.”
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